Eko Atlantic drives 59.5% growth in Lagos luxury sales

Eko Atlantic drives 59.5% growth in Lagos luxury sales

The article highlights the strong and sustained growth of Lagos’ luxury real estate market, with Eko Atlantic emerging as the top-performing location. According to a report by Estate Intel, Eko Atlantic recorded a 59.5% increase in property sales over the past five years, reinforcing its position as the most valuable luxury property market in the city. Overall, prime luxury residential areas in Lagos experienced annual price growth ranging between 38 per cent and 60 per cent, reflecting strong investor confidence.

Other high-end districts also showed impressive appreciation. Ikoyi followed closely with a 58.14% growth rate, driven by its long-standing appeal to wealthy buyers, while Banana Island recorded 55.30% growth, supported by limited waterfront properties and exclusive developments. Victoria Island saw prices rise by 45.04%, benefiting from its mixed-use commercial and residential nature, while Oniru experienced a more moderate 38.32% increase, reflecting its broader housing mix.

The report points to a widening gap between ultra-prime, master-planned districts and more mixed neighbourhoods, as investors increasingly pay premiums for areas offering better security, scarcity, and lifestyle amenities. Superior urban planning and limited supply continue to drive demand in these elite locations.

Supporting this trend, earlier findings revealed dramatic long-term land price appreciation across Lagos. Land in Eko Atlantic, once valued at about N180m per plot in the early 2000s, now sells for over N2bn. Similarly, areas such as Ibeju-Lekki and Lekki Phase 1 have recorded exponential increases in land values over the past decade, underscoring the consistent upward trajectory of Lagos real estate prices and highlighting the high cost of delayed investment.

Punch, 15 Dec 2025